Wed, Oct 1, 2014, 6:18 AM EDT - U.S. Markets open in 3 hrs 12 mins

Recent

% | $
Quotes you view appear here for quick access.

Caterpillar Inc. Message Board

  • cubicllle_99 cubicllle_99 Nov 21, 2012 11:16 PM Flag

    Hostess like cat managment,,,,,,,,,GREEDY

    Hostess managers are planning to give management a 75 percent bonus of their annual salary, according to new reports, but face a challenge from the U.S. Justice Department.
    Hostess Brans Inc. has applied for permission to make the massive payment to its management staff in an effort to ensure they do not leave as the company begins to wind down.

    However, the company behind the Twinkie has been challenged on its generous offer by an agent for the U.S. Justice Department to see if the bankruptcy plan is too generous to its management.

    According to the Chicago Tribune, a U.S. Trustee agent for the Justice Department has argued in court documents that Hostess' proposals are improper. The agent is requesting that an independent trustee be appointed to oversee the distribution of the company's assets.

    The demise of Hostess has shocked Twinkie lovers over the past week as it announced that it was starting liquidation of the company's assets. New ownership is likely to go to the highest bidder.

    The CEO of Hostess Brands, Gregory Rayburn has said in an interview with ABC News: "I think we'll find buyers. A few have surfaced already since Friday expressing interest in the brand to acquire them."

 
CAT
99.03-0.80(-0.80%)Sep 30 4:04 PMEDT

Trending Tickers

i
Trending Tickers features significant U.S. stocks showing the most dramatic increase in user interest in Yahoo Finance in the previous hour over historic norms. The list is limited to those equities which trade at least 100,000 shares on an average day and have a market cap of more than $300 million.
Move, Inc.
NasdaqGSTue, Sep 30, 2014 4:00 PM EDT
eBay Inc.
NasdaqGSTue, Sep 30, 2014 4:15 PM EDT